HM Treasury

Publication of the government’s response to the National Infrastructure Commission’s reports on Northern connectivity, London transport and energy infrastructure

Lord O'Neill of Gatley: My right honourable friend the Chief Secretary to the Treasury (Greg Hands) has today made the following Written Ministerial Statement.Today I announce the publication of the government’s response to three reports by the National Infrastructure Commission on pressing infrastructure challenges facing the country:‘Smart Power’, published on 4th March, sets out a plan to ensure that supply and demand are balanced as efficiently as possible in the energy system, and the government welcomes the report as an opportunity to transform the future of the UK’s electricity sector https://www.gov.uk /government/publications/smart-power-government-response-to-the-national-infrastructure-commissions-report  ‘Transport for a World City’, published on 10th March, sets out priorities for future large-scale investment in London’s public transport infrastructure, and the government welcomes the report as an opportunity to support London’s continued growth through strategic, long-term investment in infrastructure https://www.gov.uk /government/publications/transport-for-a-world-city-government-response-to-the-national-infrastructure-commissions-report ;  ‘High Speed North’, published on 15th March, is a plan to transform the connectivity of the Northern cities, and the government welcomes the report as an opportunity to help drive forward the Northern Powerhouse https://www.gov.uk/government/publications/high-speed-north-government-response-to-the-national-infrastructure-commissions-report .The National Infrastructure Commission was announced in October 2015, to provide expert independent analysis of the long-term infrastructure needs of the country. The Commission has been operating in shadow form since then.At Budget 2016, the Chancellor confirmed that the government has accepted the Commission’s recommendations in its recently published reports. Copies of the documents will be deposited in the Libraries of the House.The government has recently consulted on the structure, governance and operation of the commission, and proposes to introduce legislation to put the commission on a statutory footing. 


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Financial Services

Lord O'Neill of Gatley: My honourable friend the Economic Secretary to the Treasury (Harriett Baldwin) has today made the following Written Ministerial Statement.In November 2013, the Financial Conduct Authority (FCA) announced that it would investigate the serious allegations made against RBS’s Global Restructuring Group, regarding the treatment of small and medium sized business customers. In a letter from Tracey McDermott (Acting Chief Executive of the FCA) dated 12 April 2016, the FCA state that it has now received the draft final report from Promontory Financial Group, who were appointed by the FCA to undertake the review. There are a number of important steps to be taken by the FCA before the report is finalised, and the FCA remains committed to completing the review as soon as possible. I have placed a copy of the FCA’s letter in the House of Commons library. 


This statement has also been made in the House of Commons: 
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Foreign and Commonwealth Office

Future Funding for the Westminster Foundation for Democracy

Baroness Anelay of St Johns: My right Honourable Friend, the Secretary for State for Foreign and Commonwealth Affairs (Philip Hammond), has made the following written Ministerial statement:I am pleased to announce the Foreign and Commonwealth Office (FCO) is continuing support for the Westminster Foundation for Democracy (WFD). I am also pleased to inform the House that the Secretary of State for International Development, my Rt Hon. Friend the Member for Putney (Justine Greening), has agreed that the Department for International Development (DFID) will also continue to support WFD.The FCO will provide £3.5 million to WFD in 2016/17 and plans to provide a similar level of funding in 2017/18.DFID will provide up to £6.5 million to WFD over the next two financial years. Continuation of funding will be subject to WFD’s performance.WFD is uniquely placed to deploy UK parliamentary and party political expertise to help developing democracies. This funding will ensure WFD is able to continue to implement high quality programmes to strengthen parliaments and political party structures.


This statement has also been made in the House of Commons: 
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